task 3

What organization released the Incoterms rules?

• 1. The United Nations (UN)

• 1. The International Monetary Fund (IMF)

• The World Trade Organization (WTO)

• The International Chamber of Commerce (ICC)

What do Incoterms rules explain in the contract?

• Technical specifications

• Contract duration

• Division of costs and risks

• Marketing strategies

What does the term "Incoterms" stand for?

• International Clearance Terms

• International Carriage Terms

• International Contract Terms

• International Commercial Terms

What is the primary purpose of the Incoterms rules?

• To define all contractual terms comprehensively

• 1. To provide relief from liability in case of unforeseen events

• To interpret terms of delivery in international trade

• To establish consequences for contract breaches

The Incoterms rules can be applied to

• only commercial contracts

• only international contracts

• both commercial and legal contracts

• both international and domestic contracts

Incoterms are…..

• 1. not mandatory but recommended, so they are not automatically applied.

• 1. not mandatory but recommended, so they are automatically applied.

• 1. mandatory and recommended, so they are not automatically applied.

• 1. mandatory and recommended, so they are automatically applied.

While Incoterms rules are primarily intended for international sales, how can they be applied to domestic contracts?

• by negotiation with customs authorities

• by incorporating them by reference

• throught international arbitration

• by obtaining a special permit

In international contracts of sale, what crucial information do Incoterms rules provide to the parties?

• payment terms

• carriage instructions

• handling of customs duties

• quality standards

What aspects do Incoterms rules address?

• 1. Intellectual property rights

• employee benefits

• 1. Environmental regulations

• 1. Export, import, and security-related clearance

The Incoterms rules deal with obligations in connection with delivery, such as all of the following EXCEPT:

• A. Quality control obligations

• B. Notice obligations

• C. Document provision obligations

• D. Insurance procurement obligations